Ardelyx Q3 product revenue rises 19%, loss narrows
Overview
Biopharmaceutical company's Q3 product revenue grew 19% yr/yr to $125.5 mln
Company reported Q3 net loss of $0.7 mln, slightly narrower than last year
Company completed Phase 3 ACCEL trial enrollment for CIC ahead of schedule
Outlook
Company reiterates 2026 IBSRELA revenue guidance of $350 mln to $370 mln
Company maintains 2026 XPHOZAH revenue guidance of $110 mln to $120 mln
Ardelyx expects 2026 operating expenses to remain below $500 mln
Result Drivers
IBSRELA DEMAND - Co said 23% yr/yr revenue growth for IBSRELA was driven by increases in total writers and total prescriptions
XPHOZAH SALES - XPHOZAH revenue grew 7% yr/yr, contributing to total product revenue growth
COMMERCIAL INVESTMENT - SG&A expenses rose due to investments to address access barriers and drive future IBSRELA adoption
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Product Sales | $125.46 mln | ||
Q3 Net Loss | $737,000 | ||
Q3 Operating Income | $4.02 mln |
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 11 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Ardelyx, Inc. is $13.70, about 352.1% above its November 2 closing price of $3.03
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 20 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)